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i want to cut taxes, president obama wants to raise taxes. historically that has been a devastating argument. for the president and joe biden to talk about raising taxes when you have millions and millions of americans out of work, it does not seem to work, and everyone knows the actual tax hikes will do almost nothing for the deficit. so it is just kind of catnip for the left. let's raise taxes on the rich. class warfare. i don't think it is a successful economic strategy, and i'm not sure it will or politically either. gerri: interesting days. that is for sure. you will have you back to talk more. when we come back to be searching for a deal, but prescription drugs online presents a all new sets of problems. we will explain. an age-old question resurfacing. can women have it all? are we dissing mother had? this is going to be a panel. you will love it. it will be a lot of fun. ♪ [beep] [indistinct chatter] [kids talking at once] [speaking foreign language] [heart beating] [heartbeat continues] [faint singing] [heartbeat, music playing lou
i want to cut taxes, president obama wants to raise taxes. historically that has been a devastating argument. for the president and joe biden to talk about raising taxes when you have millions and millions of americans out of work, it does not seem to work, and everyone knows the actual tax hikes will do almost nothing for the deficit. so it is just kind of catnip for the left. let's raise taxes on the rich. class warfare. i don't think it is a successful economic strategy, and i'm not sure it...
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Oct 3, 2012
10/12
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FOXNEWS
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but not dictions sufficient to take the taxes up. we hope the middle class will have a tax reduction even with the elimination of deductions and putting a cap on deductions actually gives more credibility because you can give the middle class more deductions. the governor also said if you have more incomes, you pay lower caps, in other words $17,000. the idea that taxes on the well-to-do and the successful and those who are making a lot money will not go down. middle classing we hope they will stay where they are, or come down. coming down is a possibility. the important part of this tax plan, is to remember, when you earn, say you earn $200,000 and you have $20,000 worth of deductions, so now you paying tax on $180,000. if you paid tax at 35 percent rate, obviously the rate will be below $35 percent because you do not pay on full $200,000. governor romney is saying reduce that rate and every dollar you earn offer the amount that uses up the tax deductions, you will pay the lowest rate on. it will encourage people to earn more money,
but not dictions sufficient to take the taxes up. we hope the middle class will have a tax reduction even with the elimination of deductions and putting a cap on deductions actually gives more credibility because you can give the middle class more deductions. the governor also said if you have more incomes, you pay lower caps, in other words $17,000. the idea that taxes on the well-to-do and the successful and those who are making a lot money will not go down. middle classing we hope they will...
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he said he and his son calculated how much they pay in taxes, federal income tax, payroll tax, state sales tax, state property tax, gasoline tax, it added up to well over 50% of what they earned and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses says that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do, i bring down the tax rates, lower deductions and exemptions, the same idea by bowles-simpson, get the rate down to create more jobs. nothing better to create a balanced budget than having more people working, earning more money, paying more taxes, that's the most effective and efficient way to get the budget balanced. >> jim, you may want to move on to another topic. i would say this to the american people. if you believe we can cut taxes by $5 trillion and add $2 trillion of additional spending to the military that is not asking for, $7 trillion, to give you a sense, over ten years, that's more than our entire defense budget, and you think that by closing loop
he said he and his son calculated how much they pay in taxes, federal income tax, payroll tax, state sales tax, state property tax, gasoline tax, it added up to well over 50% of what they earned and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses says that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do, i bring down the tax rates, lower deductions and exemptions, the...
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would you give up the mortgage tax deduction for a lower tax rate? log on to gerriwillis.com, vote on the right hand side of the screen and all share the results of the end of tonight's show. coming up later, you will not want to miss this. joins us with his preview of tonight's debate and there will be a huge windfall for the government but a hit to your pocketbook. find out how much more un nearly every other american will be paying uncle sam if we drive over the fiscal cliff in january. nearly 1 billion people around the world don't have enough food to survive. we can't let this happen. there is something we can do about it. please join christina aguilera and yum! brands in the movement to fight world hunger by supporting the united nations world food programme. for more information, go to fromhungertohope.com. your contribution will feed children and save lives. together, we can stop the dying and start the living. and together, we can move people from hunger to hope. and together, we can move people why they're always there to talk. i love you,
would you give up the mortgage tax deduction for a lower tax rate? log on to gerriwillis.com, vote on the right hand side of the screen and all share the results of the end of tonight's show. coming up later, you will not want to miss this. joins us with his preview of tonight's debate and there will be a huge windfall for the government but a hit to your pocketbook. find out how much more un nearly every other american will be paying uncle sam if we drive over the fiscal cliff in january....
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the earned income tax credit. i doubled the earned income tax credit. it was signed under the tax credit. reagan started it. we started it with a strong support of republicans in congress. president bush dealt with that, then president obama increased the earned income tax credit for families with more than three children. this is a rejection of basically more than three decades of bipartisan policy to support working families. it's not a bunch of free loaders. there's only 4% of the total population who don't pay federal income tax and don't work and may not be looking for work. we now have the numbers on this, so, i think that most important thing for him is to find a way to relate to more people in these debates and speak to more of them. this is not the republican primary anymore. >> is he principled, do you think? mitt romney? >> that's not the issue, to me. i think he will -- i think he's principled in the sense that he will keep the commitments that he has made. almost all people when they run for president
the earned income tax credit. i doubled the earned income tax credit. it was signed under the tax credit. reagan started it. we started it with a strong support of republicans in congress. president bush dealt with that, then president obama increased the earned income tax credit for families with more than three children. this is a rejection of basically more than three decades of bipartisan policy to support working families. it's not a bunch of free loaders. there's only 4% of the total...
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Oct 4, 2012
10/12
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WUSA
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the tax plan he described is the tax plan i was asked to support i would say absolutely not. >> he's been running on this tax plan, and now five weeks before the election he's saying that his big bold idea is never mind. >> reporter: the theme of the debate for president obama appeared to be romney's planning lacked specifics. >> the reason that governor romney is keeping all these plans to replace secret because they are too good? >> reporter: mitt romney spent most of the night attacking the president's record. >> you said you would cut the deficit in half. it's four years later. >> reporter: romney came into the debate trailing in the polls but that could change. >> any time a challenger stands on the stage with a president in the first debate they tend to get some bounce after that. i expect that could happen here. >> reporter: the romney campaign believes the governor scored a knockout. >> i believe romney was the clear winner of this debate. if it was a boxing match it would have been called. >> reporter: a poll shows romney was the overwhelming winner. 46% of the people say ro
the tax plan he described is the tax plan i was asked to support i would say absolutely not. >> he's been running on this tax plan, and now five weeks before the election he's saying that his big bold idea is never mind. >> reporter: the theme of the debate for president obama appeared to be romney's planning lacked specifics. >> the reason that governor romney is keeping all these plans to replace secret because they are too good? >> reporter: mitt romney spent most of...
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he wants to give tax cuts to people over to -- 250. repeal the estate tax and he said he also wants to increase spending for the defense industry. so i don't -- it's right there. this is what he has been running on. he says this will spark economic revival. >> so we don't know is what the president will run on. lou: we do know. he has to run on his record. what he has done is not deliver on cutting the deficit. what he has done is create over $5 trillion in deficits. and a debt of $16 trillion in total. >> see him run his record. that is what he has done. lou: i want to understand something here. is there some way he doesn't run on his record? i'm sorry. >> for the last 20 muncie has been running and his record. lou: i'm not talking about that. i'm talking about right now. governor romney put him on his record, and that was his signature achievement. >> i promise you, what they will do, they're going to fire ever nuclear bomb they have. lou: had dirty. is that what you're saying? >> at the end of the day, the fact that the man stood on
he wants to give tax cuts to people over to -- 250. repeal the estate tax and he said he also wants to increase spending for the defense industry. so i don't -- it's right there. this is what he has been running on. he says this will spark economic revival. >> so we don't know is what the president will run on. lou: we do know. he has to run on his record. what he has done is not deliver on cutting the deficit. what he has done is create over $5 trillion in deficits. and a debt of $16...
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Oct 4, 2012
10/12
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this is a tax in and of itself. call it the economy tax. it's been crushing. at the same time, gasoline prices doubled. electric rates are up, food prices are up. health care costs have gone up by $2500 a family. middle income families are being crushed. the question is how to get them going again. >> governor romney defended his tax plan repeatedly. the romney proposal would give breaks to the wealthy while putting a burden on the middle class. >> i know you and your running mate keep saying that. it's popular, but it's not the case. i have five boys. i'm used to people saying something that's not always true but keep on repeating it hoping i'll believe it. that is not the case. i will not reduce the taxes paid by high income americans. number three, i will not, under any circumstances raise taxes on middle income families. >> for 18 months, he's been running on this tax plan. now, five weeks before the election, he's saying his idea is never mind. the fact is that if you are lowering the rates the way you describe, governor, then it is not possible to come u
this is a tax in and of itself. call it the economy tax. it's been crushing. at the same time, gasoline prices doubled. electric rates are up, food prices are up. health care costs have gone up by $2500 a family. middle income families are being crushed. the question is how to get them going again. >> governor romney defended his tax plan repeatedly. the romney proposal would give breaks to the wealthy while putting a burden on the middle class. >> i know you and your running mate...
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Oct 7, 2012
10/12
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a battle over $5 trillion, your tax dollars, president obama says a tax cut by the governor would roll out benefits to only the wealthiest americans at the cost of the middle class. romney says, no matter how many times the president says it it is not true. who is telling the truth? i'm shannon bream, live in washington. we have representatives from both sides of the aisle. rnc chairman, reince priebus and dnc chairwoman, debbie wasserman-schultz. welcome. we start in washington with reince priebus. i want to talk about the unemployment numbers for september, 7.8%, the lowest since president obama has been in office. he said, you can't turn back now, america is moving in the right direction. has he made a case that we are seeing recovery? >> not at all. first of all, we will let the economists argue over the numbers. i know people are arguing over how you can could have 900,000ions found, a month before the election. i will let them argue about that. if it's all true and it all works out and it's not adjusted downward if a month, i think it's great for the country to see improvement in
a battle over $5 trillion, your tax dollars, president obama says a tax cut by the governor would roll out benefits to only the wealthiest americans at the cost of the middle class. romney says, no matter how many times the president says it it is not true. who is telling the truth? i'm shannon bream, live in washington. we have representatives from both sides of the aisle. rnc chairman, reince priebus and dnc chairwoman, debbie wasserman-schultz. welcome. we start in washington with reince...
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Oct 5, 2012
10/12
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he said, in fact, they do want to raise taxes a trillion dollars. well, i don't want to raise taxes on any americans because i want to create good jobs in america. [cheers and applause] now, i take america in a very different direction. first of all, i want to make sure that our policies encourage job growth, and i have five things i'll do. you've heard me describe them time and again, but five things i'll do that'll get jobs growing in this country again, and growing right here in this part of virginia as well because number one on my list is to take full advantage of all our energy resources, our oil, our coal, our gas, our nuclear, our renewables. [cheers and applause] and i know you care a lot more about coal than the other ones i just mentioned, so let me just remind you that when the president was running for office, he said that if you built a new coal-fired plant, why, you'd go wasn't. and the head -- bankrupt. and the head of the epa has also said that the regulations on burning coal are now so vin gent is virtually impossible to build a ne
he said, in fact, they do want to raise taxes a trillion dollars. well, i don't want to raise taxes on any americans because i want to create good jobs in america. [cheers and applause] now, i take america in a very different direction. first of all, i want to make sure that our policies encourage job growth, and i have five things i'll do. you've heard me describe them time and again, but five things i'll do that'll get jobs growing in this country again, and growing right here in this part of...
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payroll tax, real estate tax, gas tax, on and on and on. the president raises the rates to 5%, most businesses work on 5% or 8%. how much more can they sustain? that reduces jobs, kills us. neil: that's your point; right, dave? >> exactly. you know, there's no 5% there. our goal is 2 #.5%, neil. our goal -- >> if we're lucky. neil: goal is 2.5% -- >> in a good economy. 2.5% net in a good economy in the business we do today. add 5% there -- >> you're done. >> 2.5% in the red, that's right. neil: if you hear mitt romney saying i'm going to essentially get off your back, going to roll back regulations. he was not specific which, make sure the government cools it on taxes, didn't say to the degree of what allowances and writeoffs and deductions he limits, were you either troubled by the fact it might be a wash? that you, for example, in your case for your catering business, you might see, butch, no tax savings at all, but you might have a lower rate, but can't deduct as much. >> that will kill us. without disposable income for me to spend or gr
payroll tax, real estate tax, gas tax, on and on and on. the president raises the rates to 5%, most businesses work on 5% or 8%. how much more can they sustain? that reduces jobs, kills us. neil: that's your point; right, dave? >> exactly. you know, there's no 5% there. our goal is 2 #.5%, neil. our goal -- >> if we're lucky. neil: goal is 2.5% -- >> in a good economy. 2.5% net in a good economy in the business we do today. add 5% there -- >> you're done. >> 2.5%...
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Sep 30, 2012
09/12
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i think it's a good idea. >> half of property taxes go to schools to be fair. tracy, the kids issue, you can get them out of your house two years earlier. what do you make about that? >> you know what, the money issue to me is separate from the academic development issue. i don't think these kids should be rushed through school. i do think there's a reason they need these years to develop as people. when you do look at the dollars and cents, there are a lot of people that live in towns that don't even have kids in the school system. close to 50% of their taxes are going to the schools that are not spending the money properly. if you can get a kid that can take advantage of every dollar given to them, they can get through the system and take advantage, why not? >> sally cohen, at the same time taxpayers are saying why not on the other end of the spectrum, because it's not just property taxes going to schools, but also look at all the fights we've had about teac teacher pensions and teacher salaries. get more kids out of school faster, save money. >> as taxpayers
i think it's a good idea. >> half of property taxes go to schools to be fair. tracy, the kids issue, you can get them out of your house two years earlier. what do you make about that? >> you know what, the money issue to me is separate from the academic development issue. i don't think these kids should be rushed through school. i do think there's a reason they need these years to develop as people. when you do look at the dollars and cents, there are a lot of people that live in...
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why not get rid of the company's and lower taxes for everyone? >> we never give out cash measure on how and expensive. we just give conditional incentives temporary tax relief. >> you have to do it to compete. to give up politician a checkbook is dangerous do anything new want to bring jobs to the state. they could be gone when the bill comes to do. you can win without doing that the seven think you governor daniels now rated number three and the most improved state not to maine court in new hampshire or north dakota. >> we are gaining on them. >> what about housing for amtrak or the post office? ♪ [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. john: did you go to the post office website? we do. since then franklin was appointed the first postmaster the post office has grown and changed with a
why not get rid of the company's and lower taxes for everyone? >> we never give out cash measure on how and expensive. we just give conditional incentives temporary tax relief. >> you have to do it to compete. to give up politician a checkbook is dangerous do anything new want to bring jobs to the state. they could be gone when the bill comes to do. you can win without doing that the seven think you governor daniels now rated number three and the most improved state not to maine...
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Oct 4, 2012
10/12
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FOXNEWS
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i want to keep taxes down on small business so we can create jobs. this is about good jobs for the american people. >>neil: he swings, slams, scores, way too early to say if the swing states swinging back to the challenger but after last night, the critics say they probably stopped swinging away. larry said the race ain't over but he also is saying for the challenger it is an uphill fight. what do you make of last night and how this changes the dynamics? >> everyone, obviously, just about everyone, from right to left, says that romney won the debate. i gave you a full "a" and i give the president a "c" minus. there was a giant difference between their performance. everyone who was fair was impressed with how romney handled that from going to end. obama was stunned by how well romney was performing. he seemed almost to take a step back and tune out. >>neil: do you think he came in to it is on the clock, the president, to your point he didn't expect this, and he saw little risk in taking on mitt romney and even if romney did well it would not move the
i want to keep taxes down on small business so we can create jobs. this is about good jobs for the american people. >>neil: he swings, slams, scores, way too early to say if the swing states swinging back to the challenger but after last night, the critics say they probably stopped swinging away. larry said the race ain't over but he also is saying for the challenger it is an uphill fight. what do you make of last night and how this changes the dynamics? >> everyone, obviously, just...
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Sep 30, 2012
09/12
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FBC
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tax policy but not by to buy another issues. i was not present the day they shutdown the event but many were shouting there is no debate. no-space 48. that hit home. >> he was shouted down. john: somewhere outside the building and throwing rocks through the window? >> university reacted and condemned the action. unc denounce. but some people did not want to have the debate. some think my views are so illegitimate i should not say them. john: you go to campuses around the country. most illiberal others are silenced? >> that is fair. the culture is monolithic they don't seem interested to change that. they pass policies to make it more difficult for students to have minority viewpoints to speak out. john: and professors at lean left, 51% registered democrats. but only 14% are republican. social science is only 6%. >> 70 2% self identify as liberal. which is a big disparity between them and the general public. john: you were a junior when obama was elected? >> it was light a little of the colt it happened across the nation. john: n
tax policy but not by to buy another issues. i was not present the day they shutdown the event but many were shouting there is no debate. no-space 48. that hit home. >> he was shouted down. john: somewhere outside the building and throwing rocks through the window? >> university reacted and condemned the action. unc denounce. but some people did not want to have the debate. some think my views are so illegitimate i should not say them. john: you go to campuses around the country....
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Oct 4, 2012
10/12
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a tax cut that ads to the deficit. that is part one. there is no economist that can say mitt romney tax plan adds $5 trillion if i say i will not add to the deficit with my tax plan. >> if you are lowering the rates the way you describe, governor, it is not possible to come up with enough deductions and loopholes that only affect high overincome individuals to avoid either raising the deficit or burdening the middle class. it is math. >>trace: which candidate had the upper hand and how much was accurate? with me is the associate editor of the financial weekly owned by the parent of this company. michael, romney says if you lower the tax rates what happens is, businesses have more money. businesses have more money they can hire more people and, guess what, everyone starts paying taxes and that is how you close the deficit. true? >>guest: it is true that is what he is saying. it is true that is the way a model would have it play out. the question and what assumptions go in that assertion by lowering rate and obviously on
a tax cut that ads to the deficit. that is part one. there is no economist that can say mitt romney tax plan adds $5 trillion if i say i will not add to the deficit with my tax plan. >> if you are lowering the rates the way you describe, governor, it is not possible to come up with enough deductions and loopholes that only affect high overincome individuals to avoid either raising the deficit or burdening the middle class. it is math. >>trace: which candidate had the upper hand and...
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Oct 4, 2012
10/12
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on top of the extension to the bush tax cuts. >> i don't have a $5 trillion tax cut. i don't have a tax cut. of a scale that you're talking about. i will not reduce the share paid by high income individuals. i know that you and your running mate keep saying that and i know it's a popular thing to say with a lot of people burks it's just not the case. look, i got five boys, i'm used to people saying something that's not always true. >> health care, romney was on offense, touting what he passed in massachusetts as an example of a bipartisan compromise and a model for the whole country at the state level. >> we've seen this model work really well. in massachusetts because governor romney did a good thing, working with democrats in the state to set up what is essentially the identical model. >> i like the way we did it in massachusetts. entirely on a partisan basis instead of bringing america together and having a discussion at this important topic, you pushed through something that you and nancy pelosi and harry reid thought something was the best answer and drove it thr
on top of the extension to the bush tax cuts. >> i don't have a $5 trillion tax cut. i don't have a tax cut. of a scale that you're talking about. i will not reduce the share paid by high income individuals. i know that you and your running mate keep saying that and i know it's a popular thing to say with a lot of people burks it's just not the case. look, i got five boys, i'm used to people saying something that's not always true. >> health care, romney was on offense, touting what...
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09/12
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we don't want to tax more people with bad tax policy. we want to grow the middle class and get people back to work with higher take home fay. the secret to this is economic growth, chris. the premise of the conversations and tax reform point is as if the economic pie is fixed and that it is governments if job to redistribute the slices. is not how the world works. we want to grow the pie and we want economic opportunity. we want people to be able to get a better job and have more income security and higher take home pay and you can do that through economic growth and that is what we are trying to provide and what we can get if we put the progrowth policies in place. >> chris: a number of top republicans say that when romney picked you as his running mate a little over a month ago that they thought that this indicated that you guys were going to run a bold reform agenda campaign and now expressing some frustration that instead of you changing romney you heard this that they feel that romney is changing you and you are running a much more
we don't want to tax more people with bad tax policy. we want to grow the middle class and get people back to work with higher take home fay. the secret to this is economic growth, chris. the premise of the conversations and tax reform point is as if the economic pie is fixed and that it is governments if job to redistribute the slices. is not how the world works. we want to grow the pie and we want economic opportunity. we want people to be able to get a better job and have more income...
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Oct 6, 2012
10/12
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CNNW
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he was right in saying 47% don't pay income taxes. you talk about lifting those people up so they can make it in america. that's what they want. they want to become taxpayers, and that's where he was totally wrong and tonal deaf. that's why i said that night, they're not victims. >> but his response right now is saying he was completely wrong, which is different than what he said earlier, saying he stated it ineloquently. >> i think what he was saying is he was completely wrong in speaking pejoratively of the 47%, and he was wrong to do that. he is wrong about the basic economics of our country. but we have gotten to a point where the country is paying no income taxes and taking advantage of the role of government. does that mean too high, too low? that's a good argument to get into. >> i'm utterly confused right now. >> you're only confused because he's trying to explain the comment from mitt romney, and now ari is trying to explain the new comment from mitt romney where he was very clear in saying he was wrong. ari, there is no need
he was right in saying 47% don't pay income taxes. you talk about lifting those people up so they can make it in america. that's what they want. they want to become taxpayers, and that's where he was totally wrong and tonal deaf. that's why i said that night, they're not victims. >> but his response right now is saying he was completely wrong, which is different than what he said earlier, saying he stated it ineloquently. >> i think what he was saying is he was completely wrong in...
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Oct 4, 2012
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they cut taxes 19 times. they balanced the budget and got a rainy day fund and upgraded their credit rating in massachusetts. they brought unemployment down to 5.7%. and that's in sharp contrast. we've had our national credit rating downgraded as a result of president obama's policies. he's not worked across the aisle and we've had unemployment go up as a result of his policies. >> gretchen: although president obama's biggest critique of your candidate is that there simply are not enough details in his plan. so how do you respond to that criticism? >> you heard a lot of details from governor romney last night. in fact, he's been going across the country talking about the romney plan for a stronger middle class and talking about the details. i think people saw that last night. i think what they did not see from president obama was an agenda for a second term should he be reelected. but we know that it would be more of the same. if you like the last four years, you would love the next four years under president
they cut taxes 19 times. they balanced the budget and got a rainy day fund and upgraded their credit rating in massachusetts. they brought unemployment down to 5.7%. and that's in sharp contrast. we've had our national credit rating downgraded as a result of president obama's policies. he's not worked across the aisle and we've had unemployment go up as a result of his policies. >> gretchen: although president obama's biggest critique of your candidate is that there simply are not enough...
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Oct 5, 2012
10/12
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bain, 47%, tax returns or women. what on earth was going on with him last night? four home runs, no hits taken. >> yeah. i can't answer why he didn't do that. but i can tell you this. i do know that he was waiting to hear from mitt romney about how he was going to pay for his $5 trillion tax cut and he didn't get an answer. i would love to know from newt gingrich, who i know has been working with and is a surrogate for the romney campaign. can he name two, at least two of the deductions that will be cut to be able to pay for the $5 trillion tax cut that romney is offering? >> very good question. newt gingrich, one thing we're not getting from mitt romney is any real detail about how he's going to achieve this miraculous saving. can you explain to us any of the detail? >> well, first of all, there are at least two components to how he ends up paying for the tax cut. one is growth, where anybody who looks at getting down from obama's devastatingly high unemployment rate with 23 million americans out of work, if you get back to a normal unemployment rate you dramatic
bain, 47%, tax returns or women. what on earth was going on with him last night? four home runs, no hits taken. >> yeah. i can't answer why he didn't do that. but i can tell you this. i do know that he was waiting to hear from mitt romney about how he was going to pay for his $5 trillion tax cut and he didn't get an answer. i would love to know from newt gingrich, who i know has been working with and is a surrogate for the romney campaign. can he name two, at least two of the deductions...
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federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax added up to well over 50% of what they earned. your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles-simpson, by the way. lower the exemptions to create more jobs because there's nothing better for getting us to a balanced budget than having more people working, earning more money, paying more taxes. that's by far the most effective and efficient way to get this budget balanced. >> jim, you may want to move on to another topic, but i would just say this to the american people. if you believe that we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion, just to give you a sense over ten years, that's more than our entire defense budget, and you think
federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax added up to well over 50% of what they earned. your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles-simpson, by the way....
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. >> how they can justify raising taxes on the middle class that's been buried the last four years. >> reporter: paul ryan pounced. >> vice president biden, just today, said that the middle class over the last four years has been quote buried. we agree. that means we need to stop digging by electing mitt romney as the next president of the united states. >> reporter: the vice president later said that the middle class pain was due to bush policiepol. the debate symbolizes a problem for the president. the economic collapse happened under bush, but four years later, families are still hurting. many in the middle class are barely treading water. all fodder for tomorrow night's debate in denver. the first lady is make her way there. first she stopped in ohio. where early voting began today. >> are we going sit back and watch everything we worked for and fought for to just slip way? >> reporter: ann romney got to colorado before her. >> we have a debate comes up. we're excited about that. we're focused. >> reporter: family members' nerves are on edge, as josh romney confided to diane in au
. >> how they can justify raising taxes on the middle class that's been buried the last four years. >> reporter: paul ryan pounced. >> vice president biden, just today, said that the middle class over the last four years has been quote buried. we agree. that means we need to stop digging by electing mitt romney as the next president of the united states. >> reporter: the vice president later said that the middle class pain was due to bush policiepol. the debate...
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the cut in tax rates? >> the cut in tax rates is lower all americans tax rate business 20%. >> how much does that cost? >> it's revenue neutral. >> unless you take away the deductions. >> we're going to get to that in a second. the first half lowering the tax rates does that cost $5 trillion? >> no. look, i won't get into baseline argument with you because that's what a lot of this is about. lowering tax rates broadening the tax base works and you can -- >> but i have to -- you haven't given me the math. >> well, i don't have the time -- it would take me too long to go through all of the math. >> that was paul ryan on fox news yesterday making the case against math or for time or some combination thereof. these are the moments where i think the romney team has trouble, once you can actually drill down and say, but how does it work? show me the numbers. there is no answer. >> right. paul ryan thinks he can use this kind of policy wonk construction that he's been able to create to evade policy discussions. h
the cut in tax rates? >> the cut in tax rates is lower all americans tax rate business 20%. >> how much does that cost? >> it's revenue neutral. >> unless you take away the deductions. >> we're going to get to that in a second. the first half lowering the tax rates does that cost $5 trillion? >> no. look, i won't get into baseline argument with you because that's what a lot of this is about. lowering tax rates broadening the tax base works and you can --...
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. >>> why won't romney level with us about his tax plan which gives the wealthy huge new tax breaks? because according to experts, he would have to raise taxes on the middle class, or increase the deficit to pay for it. if we can't trust him here, how could we ever trust him here? >> roller coaster week hitting a high note for president obama. the new jobless numbers are easing the pain of his poor debate performance and bring romney's momentum to a sharp stop or it may not. joining me now, "new york times" columnist, nick kristof. let's start with the job figures today. because it's clearly good news for barack obama politically if nothing else. >> not only the numbers today but the revisions for the last two months. we seem to really be on a trajectory and you know, this is going -- apparently what really matters is not the economy for the year but the economy at the moment as people approach the election. people are beginning to vote. >> the good news for barack obama there. not so good news his performance at the debate. common consensus is a bit of a turkey. >> he blew it. >> wh
. >>> why won't romney level with us about his tax plan which gives the wealthy huge new tax breaks? because according to experts, he would have to raise taxes on the middle class, or increase the deficit to pay for it. if we can't trust him here, how could we ever trust him here? >> roller coaster week hitting a high note for president obama. the new jobless numbers are easing the pain of his poor debate performance and bring romney's momentum to a sharp stop or it may not....
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the cut in tax rates. >> the cut in tax rates is lower all american tax rates by 20%. >> how much does that cost? >> it's revenue neutral. >> it's not revenue neutral unless you take away the deductions. we're going to get to that. >> lowering tax rates by broadening the tax base works. and you can -- >> but you haven't given me the math. >> well, i don't have the time -- it would take me too long to go through all of the math. >> what's your response to that answer, steve, just the whole series of back and forth there? >> i think that really that's the wrong argument to have if you're paul ryan. >> what do you mean that's the wrong argument? he's the numbers guy. he's the fiscal responsible face of the republican party, what other -- is he supposed to be on the front line for foreign policy? this was supposed to be his game. why is that the wrong argument? >> i didn't say it was the wrong issue. i said the wrong argument. those are two different things. >> okay. >> to me he's accepting the premise of the questions that taxing and spending and how big the government is and the role of
the cut in tax rates. >> the cut in tax rates is lower all american tax rates by 20%. >> how much does that cost? >> it's revenue neutral. >> it's not revenue neutral unless you take away the deductions. we're going to get to that. >> lowering tax rates by broadening the tax base works. and you can -- >> but you haven't given me the math. >> well, i don't have the time -- it would take me too long to go through all of the math. >> what's your...
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i don't believe romney has proposed raising taxes on on the middle class, he is raising reckless tax cuts. that i would support. >> the answer, the argument really is who do you trust to make thebetter going forward? it seems the president is winning that argument. ashley: perhaps he has been very successful in business, could be a good option. >> exactly. the regular americans really don't start looking at this stuff until three weeks before the election. people might start paying attention. who do you trust? how can you trust barack obama going forward when it failed so miserably the past four years by joe biden's own admission. that is even if you nt to blame rusch, you have a guy in the white house who promised us he would make things better, he is made things worse, he is a failure. >> i am not one of these crazy who do not believe the evidence in front of my eyes. clearly the argument is resounding and working. but you know what, he is very good. ashley: would never have enough time. want to touch on the debate very quickly and what you think the key issues are tomorrow night i
i don't believe romney has proposed raising taxes on on the middle class, he is raising reckless tax cuts. that i would support. >> the answer, the argument really is who do you trust to make thebetter going forward? it seems the president is winning that argument. ashley: perhaps he has been very successful in business, could be a good option. >> exactly. the regular americans really don't start looking at this stuff until three weeks before the election. people might start paying...
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when people are moving to the tax roles rather than welfare roles you can reduce tax rates, or welfare spending and bring it back faster. >>neil: it is about inspiring confidence. ronald reagan did that, bill clinton did it. but this idea that we can't do it and certainly when pundits say further candidate should even touch it tomorrow night, that gets to the core of the problem. >>guest: that is exactly correct. this is the issue. all the issues that we are talking about in the economy are encompassed inside the national debt argument. you can get rid of the unfunded liabilities, as well, just the way we did with social security under ronald reagan by tending the age of retirement, by reducing benefits, by subjecting half of them to the income tax. there are lots of things you can do to bring this economy back and fairly quickly in two terms you could bring it back the way reagan did. >>neil: the fact is you cannot buy your way out it. you have to boom your way out of it. thank you, art. >> in washington, dc, talk of a plan to keep the government from going off an immediate fiscal cli
when people are moving to the tax roles rather than welfare roles you can reduce tax rates, or welfare spending and bring it back faster. >>neil: it is about inspiring confidence. ronald reagan did that, bill clinton did it. but this idea that we can't do it and certainly when pundits say further candidate should even touch it tomorrow night, that gets to the core of the problem. >>guest: that is exactly correct. this is the issue. all the issues that we are talking about in the...
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that he would not cut taxes at all if they added to the deficit at all. now, as "the washington post" reporter checks out, for two years rom hi has been campaigning on a tax cut that would cost around $5 trillion over ten years. he said he would eliminate deductions and spending to pay for it. he never offers details. he did say he would cut funding for public broadcasting which was 0.01% in 2012. medicaid was 0.13%. romney also spoke in favor of regulations including much of the dodd/frank bill and he repeatedly held up as a model his health care plan in massachusetts which has added center the individual mandate and on which obama care is based. romney's transformation did not happen overnight. the candidate has been reworking his stuck stuck speech. he has a five-point stump speech. the first four points are absolutely identical to obama's stump speech. 2, dough mess tech energy, 3, retraining programs, four, domestic. on five they differ. i've long argued that romney is an intelligent man trapped in a party that has forced him to embrace extreme and i
that he would not cut taxes at all if they added to the deficit at all. now, as "the washington post" reporter checks out, for two years rom hi has been campaigning on a tax cut that would cost around $5 trillion over ten years. he said he would eliminate deductions and spending to pay for it. he never offers details. he did say he would cut funding for public broadcasting which was 0.01% in 2012. medicaid was 0.13%. romney also spoke in favor of regulations including much of the...
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it's tax on capital gains. there are lots of people who believe it should be taxed as ordinary income. would you support moving the carried interest so it's taxed as interest rule. >> it came about always sweat equity. if someone came to you and said i want to open a restaurant. you take 80% of the profits and i'm take 20%. that's what care rid interest is. it's what the venture capital firms do and that's how people do. it incents people to look at it. all the way to farm countries to carried interest because we need to raise more revenue. >> what do you think of this man as a leader? he hired you, i assume. >> he gave me my first job back at bane company. he's an incredible family man. he's got a good sense of humor. it sometimes gets him in trouble but he geeset great sense of humor, and he's have very good sense of humor. i'm heartened by the fact that we have two fantastic candidates. i worked with president obama as well. they boenlt have a high degree of education and both knowledgebling. i think we're l
it's tax on capital gains. there are lots of people who believe it should be taxed as ordinary income. would you support moving the carried interest so it's taxed as interest rule. >> it came about always sweat equity. if someone came to you and said i want to open a restaurant. you take 80% of the profits and i'm take 20%. that's what care rid interest is. it's what the venture capital firms do and that's how people do. it incents people to look at it. all the way to farm countries to...